Historic Tax Reforms Signed into Law by President Tinubu, Ushering in a New Era for Nigeria
Ajisebi Oyo Radio News, June 26, 2025
In a landmark move to transform Nigeria’s economic landscape, President Bola Ahmed Tinubu has announced the signing of four transformative tax reform bills into law, marking what he describes as “a bold new era of economic governance” for the country. The announcement, made earlier today, signals a significant overhaul of Nigeria’s tax system, aimed at delivering relief to low-income earners, small businesses, and families while fostering a more transparent and investor-friendly environment.
The four bills—the Nigeria Tax Bill (Fair Taxation), Nigeria Tax Administration Bill, Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill—are designed to unify Nigeria’s fragmented tax system, eliminate inefficiencies, reduce bureaucratic red tape, and promote fairness. According to President Tinubu, these reforms will provide the first major, pro-people tax cuts in a generation, offering targeted support to those struggling to make ends meet while encouraging enterprise and productivity.
“For too long, our tax system has been complex, inequitable, and burdensome,” President Tinubu said in his statement. “It has weighed down the vulnerable and shielded inefficiency. That era ends today.”
The reforms aim to create a leaner, fairer, and more transparent tax regime that rewards hard work, protects vulnerable citizens, and mobilizes revenue without stifling growth. The President emphasized that these changes are not just about streamlining tax codes but about “rewriting the social contract” to build a modern, ambitious Nigeria.
The Nigeria Tax Bill focuses on fair taxation, ensuring that the tax burden is equitably distributed, while the Nigeria Tax Administration Bill streamlines processes to reduce complexity. The Nigeria Revenue Service (Establishment) Bill sets up a new framework for efficient revenue collection, and the Joint Revenue Board (Establishment) Bill enhances coordination between federal and subnational authorities.
President Tinubu commended the Presidential Fiscal Policy and Tax Reform Committee, the National Assembly, subnational partners, and the Nigerian people for their contributions and support in bringing these reforms to life. He described the reforms as a foundation for a Nigeria that is “open for business,” where everyone has a fair opportunity to thrive.
“This is a beginning, not an end,” the President stated. “We are betting on a new Nigeria and building it block by block.”
The reforms have been hailed as a critical step toward economic renewal, with hashtags like #TaxReformsNG, #RenewedHope, and #NigeriaMeansBusiness trending across social media platforms. The President’s rallying cry of “Simplify. Reform. Grow.” encapsulates the vision of a fiscal reset that prioritizes growth, transparency, and opportunity for all Nigerians.
As the nation awaits the implementation of these reforms, expectations are high that they will unlock new opportunities, boost investor confidence, and pave the way for a more prosperous Nigeria.
This is Ajisebi Oyo Radio, bringing you the latest news from across the nation.
